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Friday, February 5, 2010

ChartsEdge Pattern Recognition map with good confidence for equities on Friday, Feb. 5

Turn away from the TV pundits and look at today's Pattern Recognition map for equities from ChartsEdge. Notice that once again, its confidence value is over 100 (actually above 200), as it's been for the past few days. Now - if their "swing view" TCI index is right that we'll see a stock market high today or Monday - then any low that gets put in today might give way next week. (I wondered if it should be read as a low today or Monday, but don't see Mike saying so; thus must assume it suggests an intermediate high - that's just my take.) So as always, how you play it depends on your trading time frame and style. Thanks to Mike Korell, from his ChartsEdge Daily Maps webpage at http://www.chartsedge.com/wp/

Natural gas (UNG, etc.) Possible cycle low completed, but KI$$ traders should most likely avoid this given vulnerability to being a longer term bear market.

Gold & Silver: Possible low carved 6/4-8/12; cautiously long assuming that's important support. If this low doesn't hold, then 1392 remains possible. If for some reason 1392 didn't hold then it could fall toward 1100-1200 so respect the levels. If this low holds then may well start heading toward new highs.

US Treasury Bonds: holding up surprisingly well and may continue as reserve/quality if stock markets break down.

*KI$$ is Ariel's trademarked and proprietary portfolio position indicator, primarily for stock-market tracking accounts. This will be updated to the greatest extent reasonably possible. Also be sure to follow posts about specific asset classes, updated from time to time. However, guarantees cannot be provided; see site's disclaimers and take responsibility for your own investments.

A special welcome to all my trading buddies from the previous UnbiasedTrading.blogspot! (and particularly those going all the way back to TTC days!)

I post here my charts - preferably with lines marked, eh?! - and comments on how I'm seeing the markets going. Certain other analysts are featured here on a regular basis, as they have given permission for their commentaries to be posted here - always with reference to their own sites of course (they're among the "Other Sites of Interest" listed below). From time to time I also post quotes, reviews or references of published work by additional technical or financial analysts - always with citations to their work.

And I provide my own chart analysis and commentaries, whether as standalone posts or as introduction to the featured work of others. All with the purpose of helping others gain more insight into ways to navigate financial markets happily, and we hope successfully.

Money management is critical to the success of any trader or investor, but it's important to have good analysis, whether swing trading, intraday trading or investing. Browse this site (home) and see how the unbiased trading approach of ChartLines can help you too!

3. Objective Elliott Wave as presented by Anthony Caldaro at his the Elliott Wave Lives On site (his public charts are available from the charts links he provides there).

4. Cycles work by Jim Curry at CycleWave - Market Turns. There's also another cycles analyst I refer to often, Tim Wood at his Cycles News & Views service. Each of these experts has a very good track record and a remarkable amount of work, explanation and attention to detail. In addition, Tim also comments on Kondratieff waves and Dow Theory, and addressses equities markets, bonds, gold, currencies, commodities and more.

5. John Hampson's modeling at http://amalgamator.co.uk, based on geomagnetics, the Bradley siderograph and full moon/new moon cycles, also looking at gold, VIX and other indicators for perspective.

13. Charting you can do at Stockcharts (and if you're doing intra-day trading you should consider their subscription package that includes intraday real-time data) ... don't overlook their very good free "Chart School" including how to use indicators, at Stockcharts Chart School.

14. My other blogspot "Tao of Trading" with commentaries about psychology and similar aspects of trading, at Tao of Trading.Birthcharts under the Five Elements system are available - if interested in having a birthchart detailed specifically for your birthdate (specific date and time including time zone information are needed), email chartlines@yahoo.com andindicate payment arrangements. Payment of $60 per birthchart can be arranged via PayPal.The $60 birthchart includes a full electronic document detailed to your specific birth date and time. You can order for yourself, and/or for others (makes a thoughtful gift when a child is born, for another's birthday gift, wedding or for any other occasion). For an extra $20, a quick "love match" or "relationship match" page can be added. For this, all that's needed are the birth dates of both people (exact times not required).

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